Rush Street Interactive (NYSE:RSI - Free Report) had its price objective raised by Needham & Company LLC from $17.00 to $21.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of Rush Street Interactive in a research report on Monday, June 23rd. They issued a "neutral" rating and a $14.00 target price for the company. Macquarie reaffirmed an "outperform" rating and issued a $16.00 target price on shares of Rush Street Interactive in a report on Friday, May 2nd. Jefferies Financial Group lifted their price objective on shares of Rush Street Interactive from $17.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Benchmark upped their target price on shares of Rush Street Interactive from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, July 1st. Finally, Susquehanna reiterated a "positive" rating and set a $19.00 price objective (up from $15.00) on shares of Rush Street Interactive in a report on Wednesday, July 30th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.89.
Check Out Our Latest Report on RSI
Rush Street Interactive Price Performance
Shares of RSI stock traded up $0.32 during trading hours on Thursday, reaching $19.67. 2,582,355 shares of the company's stock were exchanged, compared to its average volume of 1,737,390. The company's 50 day moving average is $14.40 and its two-hundred day moving average is $13.11. The company has a market cap of $4.50 billion, a P/E ratio of 98.35 and a beta of 1.89. Rush Street Interactive has a 1 year low of $8.52 and a 1 year high of $20.32.
Rush Street Interactive (NYSE:RSI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The company had revenue of $269.22 million for the quarter, compared to the consensus estimate of $248.98 million. Rush Street Interactive had a net margin of 2.48% and a return on equity of 16.53%. Rush Street Interactive's revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.04 earnings per share. As a group, analysts predict that Rush Street Interactive will post 0.04 EPS for the current fiscal year.
Insider Transactions at Rush Street Interactive
In other Rush Street Interactive news, Director Masi Niccolo De sold 446,094 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $18.35, for a total transaction of $8,185,824.90. Following the sale, the director owned 15,203 shares in the company, valued at $278,975.05. This represents a 96.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Mattias Stetz sold 30,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $19.30, for a total transaction of $579,000.00. Following the completion of the transaction, the chief operating officer owned 291,051 shares of the company's stock, valued at $5,617,284.30. This trade represents a 9.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,594,670 shares of company stock worth $39,044,844 over the last quarter. Insiders own 56.94% of the company's stock.
Institutional Trading of Rush Street Interactive
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in Rush Street Interactive by 28.0% in the 4th quarter. Bank of America Corp DE now owns 563,769 shares of the company's stock valued at $7,735,000 after acquiring an additional 123,305 shares during the period. Assenagon Asset Management S.A. increased its position in Rush Street Interactive by 72.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 542,376 shares of the company's stock valued at $5,814,000 after purchasing an additional 228,187 shares during the period. Calamos Advisors LLC lifted its stake in Rush Street Interactive by 17.9% in the first quarter. Calamos Advisors LLC now owns 540,008 shares of the company's stock valued at $5,789,000 after buying an additional 82,067 shares during the period. Two Sigma Investments LP bought a new stake in Rush Street Interactive in the 4th quarter valued at about $783,000. Finally, GAMMA Investing LLC grew its holdings in shares of Rush Street Interactive by 1,687.6% during the first quarter. GAMMA Investing LLC now owns 6,507 shares of the company's stock valued at $70,000 after buying an additional 6,143 shares during the last quarter. Institutional investors and hedge funds own 24.78% of the company's stock.
About Rush Street Interactive
(
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Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.
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